Liberty Gold Receives Final US$6 Million Payment for the Sale of Halilağa Copper-Gold Deposit, Turkey Natural Resources Global Capital Group Retained for Monetization Process of TV Tower Project, Turkey
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News Release 22-19 August 15, 2022
Liberty Gold Receives Final US$6 Million Payment for the Sale of
Halilağa Copper-Gold Deposit, Turkey
Natural Resources Global Capital Group Retained for Monetization
Process of TV Tower Project, Turkey
VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the
“Company”) is pleased to announce the receipt of the final US$6.0 million cash payment as final
consideration for the sale of its 40% interest in the Halila ğa copper -gold porphyry deposit
(“Halilağa”), located in Biga Province, northwest Turkey to Cengiz Holdings A. Ș. (the “Halilağa Sale
Agreement”). Liberty Gold has received US$22.0 million to-date from the sale of Halilağa. This cash
payment in non-dilutional to the Company’s capital structure.
The Halilağa divestiture is consistent with Liberty Gold’s strategy of re-deploying capital from non-
core assets into the high- quality Black Pine and Goldstrike oxide- gold projects in the Great Basin,
USA.
At the TV Tower gold -silver-copper property, Liberty Gold’s remaining asset in Turkey, Natural
Resources Global Capital Group (“NRG”) has been retained to conduct a strategic sale process, to
generate further funds to invest in oxide gold exploration and development in the Great Basin. The
Company’s ownership percentage of TV Tower is 6 4.4%. In 2021, t he Company announced an
updated r esource estimate on five gold , silver, and copper deposits , more than tripling the prior
resource estimate. TV Tower hosts a multimillion -ounce g old equivalent resource, with most
deposits open in multiple directions and a large number of undrilled targets.
Cal Everett, CEO of Liberty Gold stated, “We are pleased to the report receipt of the final payment in
this important transaction. Work conti nues at our Black Pine and Goldstrike properties and we are well -
funded, a stand-out point for the Company in the current market conditions.”
ABOUT TV TOWER
The four South TV Tower deposits (Kayali, Yumrudag, Valley and Hilltop) contain multiple ore types
and corresponding resource subsets by ore type and cut-off grade, with the breakdown illustrated
in Table 2. These resource subsets comprise the South TVT Oxide Gold; South TVT Supergene
Copper; and South TVT Au-Cu Porphyry subsets. The four deposits all lie within a 4 km-long trend,
such that separate milling and heap leaching operations, managed as a single operation, would
reasonably be expected to accommodate mineralized material from all of the deposits.
The two North TV Tower deposits contain three ore types and corresponding resource subsets
(North TVT Au -Cu Porphyry, North TVT Oxidized Porphyry and North TVT KCD HSE Au- Ag-Cu
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resource subsets). The two deposits are located within 1.5 km of each other such that it is
reasonable to expect that t hey would be developed using common infrastructure. However,
without further analysis, it is uncertain at this time whether the North TV Tower and South TV
Tower deposits would be developed using common infrastructure.
The six deposits are all open to exp ansion, and several very compelling drill targets await drill
testing.
For a full table of the TV Tower Resource Estimate Summary 1, please click here:
https://libertygold.ca/images/news/2021/April/21-06_TV_Tower_Resource_Final.pdf
Moira Smith, Ph.D., P.Geo., Vice -President Exploration and Geoscience, Liberty Gold, is the
Company's designated Qualified Person for this news release within the meaning of National
Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43 -101") and has reviewed
and validated that the information contained in the release is accurate.
ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin
of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region
is one of the most prolific gold-producing regions in the world and stretches across Nevada and into
Idaho and Utah. We know the Great Basin and are driven to discover and advance big gold deposits
that can be mined profitably in open-pit scenarios. Our flagship projects are Black Pine in Idaho and
Goldstrike in Utah, both past- producing open-pit mines, where previous operators only scratched
the surface.
For more information, visit libertygold.ca or contact:
Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
All statements in this press release, other than statements of historical fact, are "forward -looking information" with respect to
Liberty Gold within the meaning of applicable securities laws, including statements that add ress potential quantity and/or grade
of minerals. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan",
"continue", "planned", "expect", "project", "predict", "potential", "targeting", "i ntends", "believe", "potential", and similar
expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results " may",
"should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward -looking information is not a guarantee of
future performance and is based upon a number of estimates and assumptions of management at the date the statements are
made including, among others, assumptions about future prices of gold, and other metal p rices, currency exchange rates and
interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time,
obtaining renewals for existing licenses and permits and obtaining required licenses and permit s, labour stability, stability in
market conditions, the impact from the pandemic of the novel coronavirus (COVID-19), availability of equipment, the availability
of drill rigs, the timing of the publication of any updated resources, preliminary economic a ssessments or pre -feasibility studies,
1 See press release on May18, 2021, “Liberty Gold Files Technical Report on SEDAR for the Resource
Estimate at TV Tower, Western Turkey”
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successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events th at
are not within the control of Liberty Gold and there is no assurance they will prove to be correct.
Such forward -looking information, involves known and unknown risks, which may cause the actual results to be materially
different from any future results expressed or implied by such forward -looking information, including, risks related to the
interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral
property interests; changes in project parameters as plans continue to be refined; current economic conditions; future pric es of
commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of
equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration
activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mini ng
industry, including impacts from the pandemic of the novel coronavirus (COVID-19); the timing of the publication of any updated
resources, any preliminary economic assessments or pre-feasibility studies, successful, delays in obtaining governmental
approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated
March 25, 2022 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.
Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to diffe r
materially from those described in forward -looking information, there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual
results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or
obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Cautionary Note for United States Investors
The information in this press release , including any information incorporated by reference, and disclosure documents of Liberty
Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in
accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States
securities laws.
Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources”
and “probable mineral reserves”. Shareholders in the United States are advised that, while such terms are defined in and required
by Canadian securities laws, the United States Securities and Exchange Commission (the “SEC”) does not recognize them. Under
United States standards, mineralization may not be classified as a reserve unless the determination has been made that the
mineralization could be economically and legally produced or extracted at the time the reserve determination is made. United
States investors are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into
reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined
legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource
category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility, pre -feasibility or
other technical reports or studies, except in rare cases. Therefore, United States investors are also cautioned not to assume that all
or any part of the inferred resources exist, or that they can be mined legally or economically. Disclosure of contained ounce s is
permitted disclosure under Canadi an regulations; however, the SEC normally only permits issuers to report resources as in place
tonnage and grade without reference to unit measures. Accordingly, information concerning descriptions of mineralization and
resources contained in these documents may not be comparable to information made public by United States companies subject
to the reporting and disclosure requirements of the SEC.